Black-Owned Redemption Bank Rolls Out Debit Card Program Supporting Single Mothers In Need – AfroTech
Redemption Bank is supporting single mothers through its latest launch.
As AFROTECH™ previously reported, Redemption Bank is Black-owned, marking a first for a bank in the Rocky Mountain Region, which spans from Houston to Los Angeles. It is led by Ashley D. Bell (CEO and chairman of Redemption Holding) and includes senior leaders like Dr. Bernice A. King, who serves as the senior vice president for corporate strategy and alliances, per a press release.
Bank King Card
The bank has at least $65 million in assets, according to ABC News. Its latest update is the launch of the Bank King Card, a debit card linked to a program supporting single mothers in government-subsidized housing. According to a 2026 report authored by Urban Institute with support from Jeremiah Program and Share Our Strength, 97% of single mothers deal with housing challenges, 85% experience food insecurity, and 72% have trouble paying medical bills.
For every Bank King Card account opened, a donation will be made to nonprofits assisting families in need. Every year, a fixed donation will be distributed, and card purchases will not affect the contribution amount.
The card rolled out on Juneteenth, June 19.
“Bank King Card represents a new regenerative banking model that starts with investing in mothers who are a few hopeful dollars away from breaking out of poverty, and opening up America’s vaults of opportunity that have been closed to too many for too long,” Bell told ABC News.
A pilot program with the Ohio Mother’s Trust enabled 32 single mothers to receive $500 per month for a year, ABC News reports.
Juanita Amakor, 36, of Columbus, OH, and her 7-year-old daughter benefited from the program and used the funds to pay bills and rent.
“It’s the breathing room it gives you, knowing there is something extra coming in. It relieves a lot of anxiety,” Amakor told ABC News. “This help goes a long way, even if it was for something as little as being able to take my child to the grocery store, to the clothing store.”
